Today, Bitcoin (BTC) set a new all-time high of $109,114.88, briefly reclaiming a market capitalization of $2.15 trillion. However, its price dropped to $108,241.38 shortly thereafter.
Bitcoin's Record Price
Bitcoin saw a 3.82% rise over the last 24 hours, leading to a new peak. However, following the peak, its value decreased by 1.2%.
Analytical View on Future Movements
Crypto analyst EGRAG CRYPTO emphasized the importance of BTC closing a four-hour candle above $109K to sustain momentum toward $120,000.
Technical Analysis and Prospects
Previously, EGRAG suggested that Bitcoin needs to close a weekly candle above $103,000 to set the path for a test of $127,000. Additionally, the analyst warned that a retest of $77,000–$80,000 could occur before further upside.
While Bitcoin continues to surprise with its rapid ascent, analysts highlight the importance of key price levels for predicting further market changes.
